New Energy Vehicle Sales Up 27% in August 2023
Data from China Association of Automobile Manufacturers (CAAM)" official account shows that in August 2023, driven by national consumption promotion policies and preferential promotions by automobile enterprises, the demand for car purchases kept increasing, and the overall production and sales of the automobile market recovered.
Automobile production and sales marketing in August amounted to 2.575 million units and 2.582 million units respectively, up 7.2% and 8.2% sequentially and 7.5% and 8.4% year-on-year respectively. Meanwhile, new energy vehicles (NEVs) production and sales amounted to 843,000 units and 846,000 units respectively, up 4.7% and 8.5% sequentially and 22% and 27% year-on-year, with a market share of 32.8%.
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